Wednesday, 23 April 2014

ENERGY Assets, the Scottish gas meter specialist, has made its first big move into the electricity meter market by acquiring a Lancashire-based firm for £2.3m cash.

Livingston-based Energy Assets said the purchase of the BGlobal Metering business from Bglobal group will allow the company to become a leading player in the market to supply smart meters that companies can use to monitor their power consumption.

Chief executive Phil Bellamy-Lee described the deal as a significant step in the delivery of the group’s strategy to offer services across a range of utilities.

The acquisition will result in a big increase in the number of meters that Energy Assets provides to and monitors for customers in the industrial and commercial markets on which it focuses.